Highlights from this month’s assessment include:
- Johnson Matthey announced its plan to sell its battery manufacturing business. This presents an interesting buy opportunity for Asian players wishing to enter the European market.
- GM announced a JV with Posco Chemical for the production of cathode active material in North America.
- Overall BEV & PHEV sales decreased by 8% m-o-m in October. YTD battery deployment is now 107% above 2020 levels, compared to the increased y-o-y EV sales of 123%.
Global battery demand for all vehicle classes decreased by 14% m-o-m in October 2021. The sales weighted average pack size fell slightly to 44kWh in October, a result of an increased PHEV share in October, that increased to 29% globally, compared to 26% in September. 2021 YTD battery deployment is now 107% above 2020 levels, compared to a y-o-y EV sales increase of 123%, due to the smaller average pack size.
Why do we track EV battery demand?
As EV and battery market analysts, we track EV sales across all vehicle classes, cathode and anode chemistry, and battery demand on a monthly basis. Our tracker is used for analysis on the implications for raw material demand, and for the deployment of battery packs so that our members and followers can better understand what is driving global EV battery demand.
Who benefits from understanding EV battery demand?
In order to form robust strategies and informed policies, battery manufacturers, OEMs, EV battery technology companies and policy makers need a solid grasp of what EV battery demand looks like from region to region, and from one time period to the next. Anyone operating within the EV supply chain, will benefit from understanding EV battery demand, what is driving it and how it affects the EV market as a whole.
As part of the work involved to produce our EV Battery Chemistry Monthly Assessment, we publish a monthly EV Battery demand Index, (the full archive can be seen on our membership platform), to offer our members and followers regular insights into EV battery demand. The EV Battery Demand Index is an assessment of aggregated monthly kWh battery demand for all vehicle classes, based on monthly vehicle sales and our model-by-model analysis of EV pack sizes and chemistry.
How do we track the EV and battery markets?
Our EV Battery Chemistry Monthly Assessment, and our EV & Battery Quarterly Outlook both contain in-depth analysis into EV battery demand, EV sales and all other key variables that shape the EV and battery markets.
The EV Battery Chemistry Assessment is a weighted average of vehicle battery chemistry across passenger car and light duty vehicle, bus and coach, and medium and heavy duty vehicle sectors. Electric vehicle sales data is collected on a model-by-model basis from automotive associations at country level for both BEV and PHEV vehicles for major markets. This analysis covers a minimum of 90% of total global market sales, and provides a balanced representation of markets with different vehicle characteristics, suppliers and seasonality. Our EV battery demand index is derived from this data.
Our forecasts are based on robust and informed methodologies looking at the interactions between different functions in the supply chain. We track the following variables that impact the forecast: Legislation and incentives, OEM strategy, battery manufacturers’ capital investment and battery chemistry strategy, battery raw material pricing and costs, charging infrastructure investment, electric vehicle cost of ownership and consumer behaviour. For each vehicle model we collect data relating to battery pack size, battery chemistry, cell format, number of cells, and pack supplier in addition to a number of other vehicle metrics
How could our data help you?
Our insight and analysis on the EV market and battery technology advances, allow our clients to be fully up to date on latest developments, and will help inform the ways in which they react and respond to changing market dynamics. Businesses with an interest in the EV supply chain, from battery raw materials suppliers, battery manufacturers, OEMs, to charging infrastructure providers, will find it easier to form considered and forward-thinking strategies when equipped with Rho Motion data and analysis.
Rho Motion’s EV & Battery Market Reports
To find out more about our EV & battery market reports, click on the links below or contact us on +44 (0) 203 960 9986. Alternatively complete the form below and we will be in touch.